Cromwell European REIT - RHB Invest 2023-08-15: Solid Execution; Keep BUY

• 1H core operational results were in line. Cromwell European REIT delivered another resilient operational quarter with stable occupancy and positive rent reversions, which is expected to continue.
• - Read this at SGinvestors.io -

1H23 adjusted DPU declined 4.5% y-o-y

• Cromwell European REIT (SGX:CWBU)'s 1H23 adjusted DPU declined 4.5% y-o-y, mainly on the back of higher interest costs. Headline DPU declined 10.4% y-o-y as this included income contribution for the last year from two assets that are currently undergoing redevelopment. See Cromwell REIT's distribution date.
• - Read this at SGinvestors.io -
• Cromwell European REIT's portfolio value also held up much better with just a marginal decline of 1.6%, as the impact of higher cap rates were offset by improved occupancy and rent growth.

Making good progress on portfolio rebalancing strategy.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2025-03-10 Stoneweg European REIT - A New Beginning With The Same Rigour; BUY.

Previous report by RHB:
2024-11-13 Cromwell European REIT - Maintaining Its Pole Position; BUY.

Price targets by other brokers at Cromwell REIT Target Prices.

Listing of research reports at Cromwell REIT Analyst Reports.

Relevant links:
Cromwell REIT Share Price History,
Cromwell REIT Announcements,
Cromwell REIT Dividend Payout Dates & Corporate Actions,
Cromwell REIT News